The companies said the name was chosen through a combination of market research and employee participation from both Sorin and Cyberonics.
“LivaNova combines a derivation of the English word life with the Latin word for new, embodying our core mission of extending and enhancing life for patients. Building on Sorin’s and Cyberonics’ strong legacies of medical innovation, our new name demonstrates our commitment to develop and deliver breakthrough therapeutic solutions for the benefit of patients and healthcare professionals,” previous Sorin CEO and new LivaNova CEO André-Michel Ballester said in prepared remarks.
Newly formed LivaNova will operate as 3 separate business units encompassing cardiac surgery, cardiac rhythm management and neuromodulation, with headquarters for the divisions in Mirandola, Italy, Clamart, France and Houston, the company said.
“The announcement of the LivaNova brand name marks another important step in combining our efforts as part of a global, unified company. LivaNova will be at the forefront of technological innovation in more than 100 countries, so it is important that the combined company’s name effectively communicates our vision to extend and enhance people’s lives with cutting-edge medical technology,” former Cyberonics CEO and new LivaNova chairman Dan Moore said in a press release.
Sorin and Cyberonics shareholders approved a merger of the companies late last month.
The merger won approval from U.S. anti-trust regulators in April. Sorin’s sales account for more than 60% of the combined entity’s total sales. Cyberonics had around $290 million in 2014 revenues, 1 production facility and 650 employees, compared to Sorin’s sales of nearly $1 billion, 10 manufacturing sites and 3,900 workers.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
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